- Find out how you can claim your share of this credit and make sure you're not missing out on potential savings.
- Last year's tax credit on average was $230 per property.
- TheLottery and Gaming Creditis a hidden benefit for property owners, and it's essential to understand how it works.
Have you ever wondered if you're missing out on a portion of the lottery's jackpot, even if you don't buy a ticket? Well, you might be. Each time a lottery ticket is sold in our state, a portion of the proceeds goes to property owners, thanks to the Lottery and Gaming Credit.
NBC 26 spoke with the Wisconsin Lottery, the Wisconsin Department of Treasury, and neighbors of the Appleton community to learn more about the credit and make sure you're not missing out on potential savings.
Gary Kohn, Wisconsin Lottery Spokesperson, explains, "Everybody's a winner with a lottery, whether you buy a ticket or not."
Even if you don't spend a dime on lottery tickets, you can still benefit from the credit. The high jackpots, like the ones we've seen recently, continue to increase the credit's value. In the last year, homeowners claimed an average of $230, but not everyone is taking advantage of this opportunity.
Secretary Peter Barca of the Department of Revenue adds, "You do have to go to your county treasurer and apply in order to get the credit."
If you're unsure whether you're receiving the Lottery and Gaming Credit, the best way to find out is by examining your property tax bill. This information can also be found on the Department of Treasury's website. If your property tax bill shows a blank space on the Lottery and Gaming Credit line, it means you're not receiving the credit. Don't worry; you can quickly fill out a form online to make sure you get your proper due.
Unfortunately, if you didn't know about the credit before or missed the cutoff date for last year's claim (which was October 1st), there's no mechanism for going back to refinance. However, there's good news for the future. If you recently moved or haven't registered for the credit, now is the time to call your county treasurer and ensure you're registered. The best part is that you only have to register once.
Secretary Peter Barca explains, "Once you apply, as long as you're in the same residence, you'll continue to receive that credit year after year. So if you've been getting it, you don't have to reapply anymore."
Don't miss out on your share of the Lottery and Gaming Credit. Check your property tax bill and be sure you're registered to receive this valuable benefit as a property owner. It's a simple way to save money each year, and you only have to register once.
